Here's an update on a collection of longer term charts I have been tracking. Based on my interpretation, the bulls are still looking good. However, bulls should be keeping an eye on some near term resistance.
Have a great weekend!
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| SPX - PRIMARY DAILY |
Intermediate (B) has met the minimum 90% retracement of (A). However, as you will see below, the bullish alternate is certainly worth watching.
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| SPX - WEEKLY |
A large cup and handle / inverted head and shoulders I have been tracking. Bulls may be taking a stab at the upper edge of the rim at 1370.
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| SPX - 3 PUSH PATTERN |
A 3 push pattern I continue to track. Notice the channels and trendlines that have been overcome by the bulls.
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| SPX - MONTLY BOLLINGER BANDS |
A montly MACD bulls cross and upper BB at 1421.
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| SPX - LT CHANNEL |
More channels.
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| DJI- |
The Industrials are just 13.77 points away from matching the 5/2011 high.
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| NDX |
The Nasdaq 100 is leading the way.
